Malaysia: Malaysia’s currency weakened in offshore trading after the opposition claimed victory in Wednesday’s general election.
The ringgit one-month non-deliverable forward fell 1.7 pct to 4.0461 against the dollar, after the Southeast Asia nation’s long-serving former premier, Tun Dr Mahathir Mohamed, 92, claimed that the opposition alliance he leads had won enough parliament seats to form the next government.
Official results showed that, Mahathir’s Pakatan Harapan (Alliance of Hope) had won 122 of parliament’s 222 seats and Prime Minister Datuk Seri Najib Razak’s ruling coalition, Barisan Nasional (BN), had won 79.
A simple majority of 112 seats is required by a party or alliance to rule.
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